Most commonly used by Brazilian players, Boleto (or to use its full name – Boleto Bancario) is an online payment method which is regulated by the Brazilian Federation of Banks. Because FEBRABAN oversees this banking option, players in the South American country should have no qualms about the trustworthiness or security around this method.
To use Boleto (and over 80% of Brazilians do when making a purchase online) players must ensure that they have the money to deposit. Boleto means “ticket”, and this payment method is essentially a bill. Players must pay the bill for their transaction within a pre-agreed period, or else they could end up in trouble with additional fees and charges.
Depositing with Boleto
Plenty of top casinos offer Boleto as a deposit method. After finding one which works for them, players can select Boleto Bancario from the list of options. A payment page then opens where players can acquire a slip and enter their payment data. The casino will receive the deposit total and add it to the player’s account.
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This is not a perfect process. There are often delays in the money landing in a player’s account, so it isn’t the speediest of options. Moreover, if the sum on the slip or ticket isn’t paid by the player within time, hefty fees and charges can be applied. This is troublesome as it essentially permits players to gamble with money they may not necessarily have.
Another downside to using Boleto to play at online casinos is that they only offer services as a deposit method. This Brazilian option cannot be used to withdraw winnings. Players are going to have to find an alternative option to cash out their winnings. In most cases, this will likely be a bank transfer option, which begs the question, why use Boleto in the first place?
The Final Word
Boleto Bancario transactions are not speedy and not free of charge. Delays of up to 3 days are not unheard of when it comes to deposits, and each transaction does come with a small charge of 1-12 BRL. Boleto will also start applying fees if players don’t pay on time. Players are advised to either pay the slip amount straight away if they plan on using Boleto, to avoid any unwanted consequences. Alternatively (since they will likely use bank transfers to withdraw) just use a credit card to deposit online, too.
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